Mount Polley

Claims Tenures

Mount Polley is an open pit copper/gold mine located in south-central British Columbia, 56 kilometres northeast of Williams Lake. Mount Polley mine is 100% owned and operated by Mount Polley Mining Corporation, a subsidiary of Imperial.

After a care and maintenance suspension of three years, operations at Mount Polley recommenced in July 2022 providing jobs and economic opportunities for the local communities.

In 2022, Mount Polley Mining Corporation and the Williams Lake First Nation (the T’exelcemc) signed a Revised Participation Agreement, renewing the Participation Agreement which was initially signed in December 2011 and updated in 2016. Mount Polley and Xatśūll First Nation entered into a Participation Agreement in 2012. Imperial looks forward to continuing to work together with the T’exelcemc and Xatśūll First Nation to ensure Mount Polley continues to provide meaningful benefits to the T’exelcemc, the Xatśūll First Nation and the surrounding communities who work with and support Mount Polley.

The 2023 production target for Mount Polley is 30-33 million pounds copper and 35-40 thousand ounces gold.

Exploration in the mine area has included detailed soil, magnetic, 3D-IP surveys, and ongoing geological studies. The result of this work has defined several high priority targets throughout the mine property that remain untested by drilling. The best-defined high priority and deep target is located between the Springer and Cariboo pits. In early 2023 five diamond drill holes, totalling 2,720 metres, successfully intersected significant mineralization of copper and gold in each hole. These results and previous drilling have confirmed that the mineralization below the Springer pit continues at depth and may be amenable to Block Cave development. Near term exploration includes drilling of the Springer and Cariboo targets and further evaluation of a number of higher priority targets within the property.

For additional information, refer to the Company’s New Releases, Quarter Reports & Annual Information Form.